Home Table of Contents

054.00.52-11. DISCLOSURE AND NOTICE.

AR ADC 054.00.52-11Arkansas Administrative Code

West's Arkansas Administrative Code
Title 054. Insurance Department
Division 00.
Rule 52. Minimum Standards for Minimum Basic Benefit Disability Insurance
Ark. Admin. Code 054.00.52-11
054.00.52-11. DISCLOSURE AND NOTICE.
Currentness
Insurers offering for approval a basic benefit policy shall provide, separate from the policy, a disclosure to the insured which contains the following information:
1. An outline of the extent of coverage;
2. A specific list of the mandated benefits not provided;
3. An explanation of any managed care and cost control features, including all necessary telephone numbers and addresses; and
4. An explanation of the primary and preventative care features of the policy. All disclosure statements shall use terminology and language which is easily understood by the average consumer. The type used on the statements shall be pica size and the disclosure statement shall contain the following statement in twelve point bold faced type:
THIS IS A BASIC BENEFIT POLICY AND CONTAINS COVERAGE WHICH IS STRICTLY LIMITED IN NATURE AND DOES NOT CONTAIN BENEFITS WHICH WOULD BE PROVIDED UNDER A COMPREHENSIVE MAJORMEDICAL POLICY. READ YOUR POLICY CAREFULLY.
A place for the insured's signature shall be provided under the statement, and no policy shall be issued unless the disclosure statement is properly signed by the insured, and the original of such retained in the records of the insurer for the duration of coverage. The insured shall be provided a copy of the statement so retained by the insurer. All disclosure statements shall be filed along with the policy form for approval by the Commissioner.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 054.00.52-11, AR ADC 054.00.52-11
End of Document